Informatica boosts Q2 revenues 4.7%

Data integration company Informatica has posted an increase in its revenues for the second quarter of 2004, ended 30 June. Revenues for Q2 2004 were $53 million, up from $50.6 million recorded in Q2 2003, an increase of 4.7%.

Net income for the second quarter, calculated in accordance with generally accepted accounting principles (GAAP), was $1 million or $0.01 per diluted share, compared with net income of $3.3 million or $0.04 per diluted share in the second quarter of 2003. Pro forma net income for the second quarter of 2004 was $3.3 million or $0.04 per diluted share, compared to $3.4 million or $0.04 per diluted share in the second quarter of 2003.

"Although Informatica experienced its fair share of ups and downs in this quarter, the strong team and partner network the company has put in place will help it focus on increasing sales and marketing productivity during the second half of this year," says Charl Barnard, GM of BI technologies at Knowledge Integration Dynamics (KID), the local value-added reseller of the Informatica range of products and solutions.

For the first half of 2004, revenues were $107.2 million, up 12% from the $99 million recorded during the first six months of 2003. GAAP net income for the first six months of 2004 was $2.9 million or $0.03 per diluted share and pro forma net income was $6.5 million or $0.07 per diluted share.

"More than two-thirds of the company`s orders came from its installed base of 2 000 customers, a great testament to the value that Informatica`s products deliver," Barnard says.

Significant milestones achieved in Q2 2004 include:

* Repeat business with 119 customers such as American Red Cross, Chicago Board of Trade, Dresdner Bank, eBay, Federal Bureau of Investigation, General Electric, Hewlett Packard, Lockheed Martin, Societe Air France, Stanford University and Waste Management;
* Signing 62 new customers, including Hyundai Motor Company, the State of Louisiana, the US Department of Agriculture, the US Sugar Corporation, the University of Missouri, and the University of Toronto;
* Launching the Universal Data Services (UDS) architecture;
* Launching the new Japanese subsidiary with Takemi Hojo as country manager for Informatica KK;
* Strengthening its strategic partnership with Mitsubishi Electric Information Technology Corporation;
* Reaching the 2 000th customer milestone;
* Being named market share leader by analyst firm Forrester Research;
* The Deutsche B"orse Group and Informatica winning The Data Warehousing Institute`s 2004 Best Practices Award in the real-time data warehousing category, marking the eighth consecutive year that an Informatica customer has won this award; and
* Optimus Telecomunicac"oes SA and Owens & Minor winning the Best Practices Awards for their implementations of Informatica`s products.